4 unchanged sentences
Interest Rate Risk
−Removed: We are primarily exposed to interest rate risk through our ABL Facility, which bears interest at variable rates based on LIBOR.
−Removed: We had $1.3 billion in outstanding principal under the ABL Facility at December 31, 2020.
+Added: We are primarily exposed to interest rate risk through our ABL Facility.
+Added: As amended by the LIBOR Transition Amendment, borrowings under our ABL Facility bear interest at variable rates based on (i) the US Prime Rate or the Federal Funds Rate for borrowings denominated in USD, (ii) the Canadian Dollar Bankers' Acceptances average rate or the rate of interest publicly announced by the Bank of America (Canada) as its base rate or the Federal Funds Rate for borrowings denominated in Canadian dollars, (iii) SONIA for borrowings denominated in British Pounds Sterling and (iv) EURIBOR for borrowings denominated in Euros.
+Added: See “Risk Factors— The uncertainty regarding the potential phase-out of LIBOR may negatively impact our operating results." We had $1.6 billion in outstanding principal under the ABL Facility at December 31, 2021.
In order to manage this risk, we maintain an interest rate swap agreement that effectively converts $400.0 million in aggregate notional amount of variable-rate debt under our ABL Facility into fixed-rate debt.
17 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.